Intelsat Completes Acquisition of Lockheed Martin's World Systems Business Unit

Business Wire, Nov 25, 2002

Business Editors/Hi-Tech Writers

WASHINGTON--(BUSINESS WIRE)--Nov. 25, 2002

Intelsat, Ltd. today announced the closing of the acquisition by Intelsat Global Service Corporation and its affiliates of the World Systems business unit of Lockheed Martin.

The companies have recently received regulatory, FCC and other approvals.

The acquired assets include existing service contracts with World Systems' customers for Intelsat capacity, earth stations in Clarksburg, Maryland and Paumalu, Hawaii used for satellite fleet management, and the teleport facilities and related assets of COMSAT Digital Teleport, Inc. in Clarksburg, Maryland.

The addition of the earth station and teleport assets to Intelsat's network brings Intelsat closer to completing assembly of a ground-based infrastructure to complement its existing global satellite fleet. GlobalConnex(SM) Solutions, a portfolio of services offered over Intelsat's satellite/terrestrial end-to-end network, is already serving customers around the world.

"The closing of this transaction clearly demonstrates Intelsat's commitment to providing our global customers with end-to-end solutions under the Intelsat brand," stated Conny Kullman, CEO, Intelsat, Ltd. "This acquisition also positions us to better serve our North American customers, specifically by placing us in more direct contact with them and thereby giving us better knowledge of their requirements."

About Intelsat

Intelsat, Ltd. offers telephony, corporate network, video and Internet solutions around the globe via capacity on 25 geosynchronous satellites in prime orbital locations. Customers in approximately 200 countries and territories rely on Intelsat satellites and staff for quality connections, global reach and reliability. For more information, visit www.intelsat.com.

Some of the statements in this news release constitute "forward-looking statements" that do not directly or exclusively relate to historical facts, including statements relating to our planned expansion of our terrestrial infrastructure, planned expansion of our service offerings and expected enhanced sales capabilities as a result of the transaction described above.

The forward-looking statements in this news release reflect our intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside of our control.

These factors could cause our actual results to differ materially from the expectations expressed or implied in the forward-looking statements and include known and unknown risks.

In connection with any strategic transaction, known risks include, but are not limited to, the inability to retain and continue to serve successfully customers gained in connection with the transaction; the inability to execute integration strategies successfully or to achieve planned synergies or business goals; the incurrence of unexpected costs of integration; and the inability to retain or integrate the capabilities of key personnel joining Intelsat as a result of the transaction.

Because actual results could differ materially from our intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in these news releases with caution. Intelsat does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Release Number: 2002 -32